Currently, there are just two road events, a road race and an ITT. Why not replace them with a week long (5–7 days) stage race? The advantages, for cyclists, are obvious:
1) Multiple stages would mean at least one stage for sprinters, one for climbers, and one for breakaway specialists; medals would go to the top finishers in each stage
2) In addition to preserving the ITT, there could also be a TTT
3) There would be a GC winner and podium, as well as a team competition
The disadvantages, I guess, would be:
1) it might be harder for some cyclists to work this into their professional schedule (though they could focus on a single stage);
2) integrating the expanded schedule into the overall Olympic schedule;
3) many locations might not have the required varied terrain, particularly for a challenging mountain stage;
4) winning any single stage would not carry the prestige that winning the Olympic RR does now. But that is the current situation in many Olympic events, and anyway, the big prize would now be the GC.
1) Multiple stages would mean at least one stage for sprinters, one for climbers, and one for breakaway specialists; medals would go to the top finishers in each stage
2) In addition to preserving the ITT, there could also be a TTT
3) There would be a GC winner and podium, as well as a team competition
The disadvantages, I guess, would be:
1) it might be harder for some cyclists to work this into their professional schedule (though they could focus on a single stage);
2) integrating the expanded schedule into the overall Olympic schedule;
3) many locations might not have the required varied terrain, particularly for a challenging mountain stage;
4) winning any single stage would not carry the prestige that winning the Olympic RR does now. But that is the current situation in many Olympic events, and anyway, the big prize would now be the GC.